UPDATE: Jefferies Initiates Coverage on Tumi Holdings
According to a research report published this morning, Jefferies has initiated Tumi Holdings (NYSE: TUMI) with a Buy rating and $30 PT.
In the report, Jefferies said, "We like Tumi's luxury brand positioning, early stage growth profile and significant global expansion opportunity. We view the current risk/reward as favorable and initiate coverage with a Buy rating and $30 12-month price target. Jefferies acted as co-manager in TUMI's April IPO."
Tumi Holdings closed Friday at $21.17.
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